Google Steps Up

Readers probably know that the world wide web is one of this nation's biggest energy users; by some calculations it even consumes more than air travel. But Google, which only exists because of the advent of personal computing, is putting up $280 million to help finance domestic use of solar power. Google and SolarCity, a solar energy company, is creating a fund to extend solar lease and power purchase agreements to homeowners who want to use solar power, but do not wish or cannot afford the substantial up-front investment to purchase a system. The fund provides several lease options, including a $0 down lease. Google has been progressive in its investment policies to help renewable energy compete in the marketplace. It has invested $680 million in renewable energy projects according to a company spokesperson. SolarCity has outlets on both coasts and Texas with more than 15,000 projects underway. By creating the fund both companies are setting an example for the largest 200 American businesses with more than $1 trillion in cash on their balance sheets.